What best practices should my company focus on?

With Comply you can use technology and process automation to simplify your Accounts Payable workflows and achieve greater efficiency.

• Limit authorization to only those people who should have access to the highest-level files and prioritize necessary payments to ensure you are taking advantage of the best conditions and rates.
• It is advisable not to pay invoices immediately but to apply procedural logic with respect to payment deadlines so you can control your cashflows more tightly.
  
• Technology helps you better analyse each situation and ensures there is less room for human error.
• Comply helps you avoid potential fraud at any stage of the AP process by identifying and reporting anomalies, inconsistencies, or discrepancies in real time.
• By ensuring that roles are appropriately allocated you can eliminate unnecessary work and only have to monitor KPIs and approve payments.
• Regularly review data to reconcile accounts and perform recurring checks to eliminate duplicate payments, identify over- or under-payments, and reduce audit stress.
• Quickly identify opportunities to consolidate suppliers, save costs per invoice or supplier, or negotiate better prices or discounts.
• Eliminate paper-based procedures and record-keeping to generate substantial savings in office space, archival storage and unproductive use of personnel.
• Eliminate unresolved dispute cases and safeguard supplier relationships.